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PACDC achieved a victory in our campaign to Double the Housing Trust Fund in September 2018 when City Council and Mayor Kenney reached an agreement to direct at least $70 million to it between FY19 – FY23. As of November 2020, more than $67 million had already been transferred into the fund thanks to continued advocacy to boost that commitment to $100 million over five years. In 2020, PACDC and our allies were successful in pushing back against proposals that would have zeroed out the commitment to the HTF due to COVID-related budget shortfalls.
This victory was the outcome of a multi-year effort by PACDC that also included our campaign Affordable Homes for a Growing Philly which led to legislation to create a Mixed Income Housing program. The effort also led to the passage of a bill that would have created a 1% Construction Impact Tax for the HTF, but that legislation was withdrawn from Council in favor of the agreement to transfer City General Fund revenue into the fund.
In Fall 2020, PACDC announced our support for a new proposal introduced in City Council to revive the Construction Impact Tax in order to float a $400 million bond to spur an economic recovery by investing in affordable homes and neighborhood commercial corridors.